Earnings
The regional bank said dozens of new hires give it a major presence on both coasts, and it plans to build out its team of advisors and its private banking products.
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After the Tennessee bank's canceled sale to TD Bank, it launched a marketing campaign that attracted tens of thousands of new customers. The next step is expanding these relationships, executives said during the company's second-quarter earnings call.
July 19 -
The nation's second-largest bank has weathered the Federal Reserve's rate hikes better than many others, but it's still at the central bank's mercy as deposit pressures continue.
July 18
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Outgoing CEO James Gorman, who is set to become the investment bank's executive chairman, said he has no plans to ditch virtual annual meetings. He also argued that earnings should be reported twice each year, rather than quarterly.
July 18 -
The Pittsburgh superregional reported lower second-quarter earnings as net interest income tapered and deposits fell from the previous quarter. CEO William Demchak predicted further weakening of loan demand and NII through the current quarter.
July 18 -
The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.
July 14 -
If regulators push forward with plans to strengthen capital requirements for banks with more than $100 billion of assets, the nation's largest bank says, the cost of credit would rise and more consumers could seek out nontraditional lenders.
July 14 -
The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.
July 14 -
For now, worries about more bank failures have faded. But in the wake of the recent industry turmoil, higher funding costs are expected to weigh on banks' second-quarter results.
July 12 -
California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.
June 20
